Crypto Losses Reach $336 Million in First Quarter: Immunefi Highlights
Thursday, 28 March 2024, 13:01
Crypto Losses in Q1: A Detailed Overview
The first quarter of the year witnessed significant losses within the cryptocurrency sector, totaling $336 million due to hacks and scams. Among the notable exploits, Orbit Bridge and Munchables stood out, representing 43% of the total losses incurred during this period.
Key Highlights:
- Orbit Bridge and Munchables accounted for a significant portion of the losses.
- Recovery Efforts: Funds associated with Munchables were successfully recovered.
The prevalence of such security breaches emphasizes the importance of implementing robust cybersecurity protocols and proactive risk management strategies within the crypto industry.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.